Question Help Selected accounts of Adessa Consulting, Inc. a financial services business, have the following balances at December 31, 2018, the end of its first year of operations. During the year. Laura Adessa, the only stockholder, bought $25,000 of stock in the business Click the icon to view the selected accounts.) Read the requirements Requirement 1. Identify each amount shown as an asset ability, revenue or expense Rent axpense Office furniture Uits expense. Accounts payable Note bayable Office Supplies Salaries expense Salaries ayat Property taxes | Equipment i n Choose from any list or enter any number in the input fields and then continue to the next question Selected accounts of Adessa Consulting, Inc., a financial services business, have the following balances at December 31, 2018, the end of its first year of Adessa, the only stockholder, bought $26,000 of stock in the business (Click the icon to view the selected accounts.) Read the requirements Requirement 2. Prepare the income statement of Adessa Consulting, Inc., for the year ended December 31, 2018 Start with the heading and then complete the rest of the statement (if a box is not used in the income statement leave the box emply do not enter a zero.) Revenue Expenses Choose from any list or enter any number in the input fields and then continue to the next question Previous WER Trullo 0 Such Hello Selected accounts of Adessa Consulting, Inc., a financial services business, have the following balances at December 31, 2018, the end of its first year of operations. During the year, Laura Adessa, the only stockholder, bought $25,000 of stock in the business Click the con to view the selected accounts.) Read the requirements Requirement 3. Assuming the balance in Relined earnings on December 31, 2018 was $10.000. What was the amount of the dividends during the year? Answer by preparing a statement of retained earnings to solve for the dividends. Recall that the business has just completed its first year and has no beginning balance for retained earnings. Start with the heading and then complete the rest of the statement Enter for zoro balances) Choose from any lat or enter any number in the input fields and then continue to the ne Next Previous 50 , FGHIJKI Selected accounts of Adessa Consulting, Inc., a financial services business, have the following balances at December 31, 20 Adessa, the only stockholder, bought $26,000 of stock in the business (Click the icon to view the selected accounts.) ver Read the requirements Add: Subtotal Less: Choose from any list or enter any number in the input fields and then continue to the next question Previous Time Lin 12 of 17 (4 complete) Th of fy t year of operations. A 0 Date Table Data Table . $ $ Ren Cas Orid Sale Sale Prod | Equl Office furniture ............$ Utilities expense............ Accounts payable ............ Note payable ............. Service revenue..... . Accounts receivable ....... 27,000 Rent expense. 10,400 Cash 3,300 Office supplies 18,000 Salaries expense 141,500 Salaries payable 8,500 Property tax expense 4,200 Equipment 40,000 3,000 1.400 36,000 3,000 2.900 32.000 Supplies expense ement Print Done ber in the 00 Y U op 12 of 17 (4 complete) a financial services business, have the following balances at December 31, 2018, the end of its first year of oper olah 0 Requirements 1. Identify each amount shown as an asset, liability, revenue, or expense. 2. Prepare the income statement of Adessa Consulting, Inc., for the year ended December 31, 2018. What is the result of operations for 2018? 3. Assuming the balance in Retained earnings on December 31, 2018, was $18,000, what was the amount of the dividends during the year? Answer by preparing a statement of retained earnings to solve for the dividends. Recall that the business has just completed its first year and has no beginning balance for retained earnings. - Ed Print tement Done nber in the input fields and then continue to the next
